Imagine You Are Paying for Something at a Store and the Clerk

question 76

Multiple Choice

Imagine you are paying for something at a store and the clerk gives you too much change.If you were operating at the preconventional level of moral development,you would be likely to:

• A) give the money back because keeping it would be like stealing and stealing is illegal
• B) give the money back because it will make the clerk very happy with you
• C) keep the money because it will make you happy
• D) give the money back because it does not rightfully belong to you

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Definitions:

Product-variety Externality

The impact on consumers and producers resulting from an increase or decrease in the variety of products available in the market.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

Producer Surplus

The amount a seller is paid for a good minus the seller’s cost of providing it.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial gain exceeding all costs.